QuantumScape reaches licensing deal with PowerCo; cash runway extends into 2028

QuantumScape Corp

Non-exclusive licensing deal with PowerCo (Volkswagen) includes $130M prepayment of royalties; initial 40 GWh/yr with option to 80 GWh.
Q2 net loss $123M, adj. EBITDA loss $72.5M; liquidity $938M; FY2024 adj. EBITDA loss guidance $250-300M, capex at lower end of $70-120M.
PowerCo deal extends cash runway by 18 months into 2028; avoids $134M JV spend; enables capital-light scaling.
Raptor separator process on track for low-volume QSE-5 B-samples; Cobra equipment deliveries begun for higher-volume production in 2025.
Prototype cells demonstrate thermal stability up to 300°C; conventional Li-ion cells burst into flames at 174-185°C.

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